Delhi Police have apprehended Chetan Singh Ranawat and three other individuals in a major scam involving fraudulent online investments. The suspects, including Nikunj Ashvinbhai Makvana (29), Aditya Sonkar (23), and Sumit Shaw (23), were involved in duping victims by posing as legitimate investment brokers.
One of their recent targets was a senior executive in the engineering department of an IT company. The victim, unfamiliar with the stock market, was lured in by a social media advertisement. After being added to a WhatsApp group managed by the scammers, he invested Rs42 lakh. However, when he attempted to withdraw his funds, the scammers demanded additional payments for management fees and taxes, refusing to return the invested amount, according to Deputy Commissioner of Police (Southwest) Surendra Chaudhary.
Following the complaint, a case was registered, prompting a series of raids led by Inspector Vikas Buldak in Surat, Ahmedabad, Chittorgarh, and Kolkata. Investigators found that the account used for the fraudulent transactions belonged to an enterprise owned by Makvana, who was arrested in Ahmedabad.
During the investigation, police uncovered that transactions totaling around Rs4.28 crore had occurred in Makvana’s account, revealing the extensive nature of their scam.